WO2006047789A3 - System and method for trading financial instruments based on undisclosed values - Google Patents

System and method for trading financial instruments based on undisclosed values Download PDF

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Publication number
WO2006047789A3
WO2006047789A3 PCT/US2005/039674 US2005039674W WO2006047789A3 WO 2006047789 A3 WO2006047789 A3 WO 2006047789A3 US 2005039674 W US2005039674 W US 2005039674W WO 2006047789 A3 WO2006047789 A3 WO 2006047789A3
Authority
WO
WIPO (PCT)
Prior art keywords
order
undisclosed
values
trading
financial instruments
Prior art date
Application number
PCT/US2005/039674
Other languages
French (fr)
Other versions
WO2006047789A2 (en
Inventor
Eric Berger
Christopher J Hodder
David Klein
Original Assignee
Bloomberg Lp
Eric Berger
Christopher J Hodder
David Klein
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Bloomberg Lp, Eric Berger, Christopher J Hodder, David Klein filed Critical Bloomberg Lp
Priority to EP05824129A priority Critical patent/EP1815418A4/en
Priority to JP2007539328A priority patent/JP2008518366A/en
Priority to AU2005299602A priority patent/AU2005299602B2/en
Publication of WO2006047789A2 publication Critical patent/WO2006047789A2/en
Publication of WO2006047789A3 publication Critical patent/WO2006047789A3/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/10—Tax strategies

Abstract

In electronic trading venues, there may be orders for which the full information is not publicly displayed. For example, the full quantity of an order available for trading or the most aggressive price at which an order can be traded may not be made public. A system and method are disclosed that facilitates trading based on this non-public information. A first order associated with a financial instrument is placed at a venue to probe for non-public information related to the financial instrument. The results of the probe may then be used to place a second order at the venue that takes advantage of any discovered non-public information.
PCT/US2005/039674 2004-10-27 2005-10-27 System and method for trading financial instruments based on undisclosed values WO2006047789A2 (en)

Priority Applications (3)

Application Number Priority Date Filing Date Title
EP05824129A EP1815418A4 (en) 2004-10-27 2005-10-27 System and method for trading financial instruments based on undisclosed values
JP2007539328A JP2008518366A (en) 2004-10-27 2005-10-27 Transaction system and method for financial products based on undisclosed figures
AU2005299602A AU2005299602B2 (en) 2004-10-27 2005-10-27 System and method for trading financial instruments based on undisclosed values

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US62252704P 2004-10-27 2004-10-27
US60/622,527 2004-10-27

Publications (2)

Publication Number Publication Date
WO2006047789A2 WO2006047789A2 (en) 2006-05-04
WO2006047789A3 true WO2006047789A3 (en) 2009-04-30

Family

ID=36228524

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2005/039674 WO2006047789A2 (en) 2004-10-27 2005-10-27 System and method for trading financial instruments based on undisclosed values

Country Status (6)

Country Link
US (3) US8099352B2 (en)
EP (1) EP1815418A4 (en)
JP (1) JP2008518366A (en)
AU (1) AU2005299602B2 (en)
SG (1) SG175575A1 (en)
WO (1) WO2006047789A2 (en)

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US20050171887A1 (en) * 2004-01-29 2005-08-04 Daley Thomas J. System and method for avoiding transaction costs associated with trading orders
US20050171890A1 (en) * 2004-01-29 2005-08-04 Daley Thomas J. System and method for matching trading orders
US8738498B2 (en) * 2004-01-29 2014-05-27 Bgc Partners, Inc. System and method for routing a trading order
US9009074B2 (en) * 2005-01-25 2015-04-14 Siemens Aktiengesellschaft Systems and methods for generating electronic spare parts catalogs for complex systems and machines
US20070016506A1 (en) * 2005-05-20 2007-01-18 James Davies System and method for determining availability of a tradable instrument
US7840477B2 (en) 2005-06-07 2010-11-23 Bgc Partners, Inc. System and method for routing a trading order based upon quantity
US8484122B2 (en) * 2005-08-04 2013-07-09 Bgc Partners, Inc. System and method for apportioning trading orders based on size of displayed quantities
US8494951B2 (en) * 2005-08-05 2013-07-23 Bgc Partners, Inc. Matching of trading orders based on priority
US7979339B2 (en) 2006-04-04 2011-07-12 Bgc Partners, Inc. System and method for optimizing execution of trading orders
JP5108009B2 (en) 2006-06-16 2012-12-26 アイ・ティ・ジー ソフトウェア ソリューションズ インコーポレーテッド Algorithmic trading system and method
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US10185995B2 (en) 2007-01-16 2019-01-22 Bgc Partners, L.P. System and method for managing display of market data in an electronic trading system
US20080172318A1 (en) * 2007-01-16 2008-07-17 Peter Bartko System and Method for Managing Trading Orders in Aggregated Order Books
US20080228621A1 (en) * 2007-03-16 2008-09-18 Johnson James C System And Method For Transfer Of Dispute Data In A Distributed Electronic Trading System
US8165947B1 (en) * 2008-08-01 2012-04-24 Morgan Stanley System and method for electronic trading
US10083486B2 (en) * 2013-12-31 2018-09-25 Nyse Group, Inc. Limited movement collar on marketable order execution price

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Also Published As

Publication number Publication date
US20150026030A1 (en) 2015-01-22
US20070100734A1 (en) 2007-05-03
US8788397B2 (en) 2014-07-22
SG175575A1 (en) 2011-11-28
US20120095903A1 (en) 2012-04-19
EP1815418A2 (en) 2007-08-08
US8099352B2 (en) 2012-01-17
JP2008518366A (en) 2008-05-29
AU2005299602B2 (en) 2012-12-13
WO2006047789A2 (en) 2006-05-04
AU2005299602A1 (en) 2006-05-04
EP1815418A4 (en) 2010-02-17

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